We are thrilled to announce our company has closed a $50 million round of debt and equity financing to capitalize on a pipeline of corporate acquisitions. The financing was led by Virgo Investment Group, LLC (“Virgo”) of Redwood Shores, CA, and its investor partners, including Crestline Investors, Inc.
We plan to use the capital to continue building our therapeutic expertise and to further expand our capacity to deliver services to our clients.
Let’s take a moment to review the amazing growth we’ve seen as a company over the past few years:
- 40% YOY growth rate in 2014
- 348% three-year growth rate
- Addition of 450+ jobs from 2012-2014
- Five acquisitions in five years
- 700 global staff, 30+ countries
- 1,500 clinical research studies managed; 23,000 sites activated; 330,000 subjects enrolled; 300+ regulatory and strategic engagements managed
“Clinipace presented an exciting opportunity in a large and growing segment of the healthcare sector. The fundamentals of the CRO industry are currently strong and the Company is at an inflection point in its growth, which can be catalyzed by the capital of our investment group. Our firm focuses on partnerships with successful entrepreneurs and management teams that share our values and our dedication to innovation. What we found in Clinipace is an organization that combines proven operational talent with a disruptor philosophy to drive both consistent execution and growth. We believe the CRO marketplace is ripe for re-imagination. Pharmaceutical clients are demanding new thinking and increased efficiency in their clinical trial operations, which creates an attractive market seam, or window of opportunity. Clinipace is ahead of the market in developing a novel business model that addresses not only the needs today, but those looming on the horizon.”
Jesse Watson, Founder of Virgo
To read today’s full announcement, click here.